Thursday, January 5, 2017

Sears sells Craftsman

Sears, Roebuck & Co., the ailing retail one time giant founded in 1886 has sold its Craftsman brand to Stanley, Black & Decker for $900,000,000.

That's a lot of cash, but the sale of the Craftsman brand, which Sears has carried since 1927, can't be a good sign.

Sears has been owned by Kmart since 2005.  It hasn't been itself for a long time, in my view.  Here locally its downtown store was once one of the downtown anchors, along with J. C. Pennys, but both moved up to the mall when it was built.  It's been declining as a draw for a long time.  Craftsman tools were at one time legendary for their quality although I've never owned any myself. They may still be very good, in so far as I know.

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